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Deposits and Consignments Fund (Istalia)
Deposits and Consignments Fund (Istalian: Cassa Depositi e Prestiti) is an Istalian investment bank founded in July 4371 with the Deposits and Consignments Fund Establishment Act in the form of a join-stock company which majority shareholder is the Minister of Finance of Istalia, detaining 80% of the shares while the 20% is held by various istalian banking foundations. Deposits and Consignments Fund manages the entire Postal savings of the Istalian National Postal Service that represent its first source of financial resources. These resources are used by the bank to lend money to the Istalian State or local governments, acquire strategic equities and invest in financial, infrastructural and economical projects considered strategic for the development of the Istalian economy. Mission The main mission of the institution is to promote the development of the Istalia's economic and industrial system, maintaining an active role on the global scenario. Deposits and Consignments Fund carries out missions of public interest in support of the public policies implemented by the State and local government bodies. It will contribute to the development of enterprises in line with its own proprietorial interests, and may also exercise competitive activities. It ensures, on behalf of the State and local authorities, missions of general interest as the following: * Loans to the State and local authorities and businesses * Participation in the share capital of medium and large national companies profitable and considered strategic for the development of the country * Financing of industrial and financial projects deemed relevant for the growth of the Italian economic system * Management of the postal savings funds * Management of pension plans in coordination with the National Insurance Agency * Key stakeholder and provider of funding for the urban policy * Supporting universities in their projects and providing funding for their autonomy * Financing the development of very small businesses, microcredit and small and medium enterprises * Promoting research and financing sustainable development * Developing territories alongside local authorities * Long-term institutional investor Management The fund management of the Deposits and Consignments Fund is divided between two structures, a Supervisory Committee and a Board of Directors, both of them oversighted by the Government, the Fund has to respond to the Ministry of Finance, and by the Parliament reporting to the Parliamentary Finance Committee. Supervisory Committee The Supervisory Commitee (Istalian: Commissione di Supervisione) exercises oversight in particular with regard to strategic policies, the administration of savings funds and the preparation of the financial statements. It is composed of members of the Parliamentary Finance Committee, members of the Council of state, the Governor of the Bank of Istalia (Central Bank), the Director of the Istalian Treasury (as representative of the Minister of Finance) and three members appointed by the President of the Chamber of Deputies for their financial or economic experience. Board of Directors The Board of Directors is responsible for administering the institution’s funds and assets. The directors are appointed by the Minister of Finance under adivece of the Supervisory Committee for a period of 5 years. Category:Istalia Category:Corporations in Istalia Category:Corporations Category:Banking and financial services